Hasbro stock is up more than 15% on Tuesday morning after the toy maker swung to a surprise profit in its first quarter and beat sales estimates as well.

The back story. There was no joy in toyland in 2018, as both Hasbro (ticker: HAS) and rival Mattel (MAT) suffered from the fallout of the Toys ‘R’ Us liquidation, which closed an important sales channel for the pair. Yet the companies weathered the crucial holiday season fairly well, and turnaround efforts have been improving investor sentiment on both companies: Both...

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